ENERGY AND ENVIRONMENT MANAGEMENT (TURKISH, NON-THESIS) | |||||
Master | TR-NQF-HE: Level 7 | QF-EHEA: Second Cycle | EQF-LLL: Level 7 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
ESE5012 | Economics of Power Systems | Fall Spring |
3 | 0 | 3 | 12 |
This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
Language of instruction: | Turkish |
Type of course: | Departmental Elective |
Course Level: | |
Mode of Delivery: | Face to face |
Course Coordinator : | Dr. Öğr. Üyesi HATİCE ESER ÖKTEN |
Recommended Optional Program Components: | none |
Course Objectives: | The objective of the course is to familiarize the students with the restructuring electricity supply industry, and to teach them how to analyse the operation of power systems in a competitive environment. For this purpose, the course provides a review of the concepts from micro economics that are essential for the understanding of electricity markets. The transmission network is not considered to make the analyses relatively simple. |
The students who have succeeded in this course; 1. The student knows supply and demand relationships. 2. Knows how firms adjust their operations in a competitive environment. 3. Can analyze monopolistic and duopolistic market behaviour of electricity generating companies. 4. Can differentiate between different forms and functions of the electricity markets and their related instruments in the competitive environment. 5.Has knowledge about bilateral trading, and electricity pools. 6. Undrestand how managed spot markets operate and the settlement process. 7. Has knowledge and understanding of system security and ancilliary services concepts. |
Restructured electricity markets, models of competition, supply and demand for electricity, types of electricity markets, operations of electric power producers in a competitive system, system security issues. |
Week | Subject | Related Preparation |
1) | Overview of Power Systems and its economy Course schedule and expectations | |
2) | What is the competition? competitive models monopoly Procurement organization Wholesaling Retailing Privatization and competition | |
3) | Basic Economic Concepts, basic information on the markets: modeling of consumers modeling of manufacturers | |
4) | Basic Economic Concepts, basic information on the markets: Market equilibrium Pareto efficiency Social welfare | |
5) | Basic Economic Concepts, Concepts related to the Company Theory Production inputs and outputs costs Short-and long-term | |
6) | Basic Economic Concepts, market types: Spot market Contracts (Markets and Futures Contracts, Options, Differences Contract) Non-Competetive Markets(Duopoly, Monopoli) | |
7) | Electricity Markets, Definitions and rules: The spot market and the need for management Energy markets open to competition (bilateral trade, electricity pool) | |
8) | Mid-Term / Electricity Markets: Balancing-Reconciliation process Spot market management | |
9) | Electricity Markets: Balancing-Reconciliation process Spot market management | |
10) | Electricity Markets, different participants: The consumer side (retail sales) producer side | |
11) | Producer side: full competition Produce / buy Imperfect competition | |
12) | Location of marginal low-cost manufacturing plants in the position, Hybrid participants | |
13) | Examples | |
14) | FINAL / System Security and Additional Services: Balancing issues Network issues, The system repair (restoration) |
Course Notes / Textbooks: | 1. Ana Kitap: “Fundamentals of Power System Economics”, Daniel Kirschen, Goran Strbac, 2004 2. Yardımcı Kitap: Power System Economics Designing Markets for Electricity, Steven Stoft, 2002 Ders notları ve diğer ek bilgiler, dersten sorumlu öğretim elemanı tarafından sağlanacaktır. 1. Major Refernce Book:“Fundamentals of Power System Economics”, Daniel Kirschen, Goran Strbac, 2004 2. Additional Reference Book:Power System Economics Designing Markets for Electricity, Steven Stoft, 2002 |
References: | 1. Major Refernce Book:“Fundamentals of Power System Economics”, Daniel Kirschen, Goran Strbac, 2004 2. Additional Reference Book:Power System Economics Designing Markets for Electricity, Steven Stoft, 2002 |
Semester Requirements | Number of Activities | Level of Contribution |
Attendance | 14 | % 10 |
Homework Assignments | 3 | % 15 |
Midterms | 1 | % 25 |
Total | % 50 | |
PERCENTAGE OF SEMESTER WORK | % 50 | |
PERCENTAGE OF FINAL WORK | % | |
Total | % 50 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 14 | 3 | 42 |
Study Hours Out of Class | 14 | 7 | 98 |
Midterms | 1 | 8 | 8 |
Final | 1 | 42 | 42 |
Total Workload | 190 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution | |
1) | Integration and application of limited or missing information by using scientific methods and ability to combine information from different disciplines | 4 |
2) | Gaining the abilitiy to reach the knowledge by employing scientific research and literature survey | 4 |
3) | Building energy and environment-oriented engineering problems, producing solutions by employing innovative methods | 5 |
4) | Gaining ability to develop innovative and original ideas, designs and the solutions | 4 |
5) | Gaining knowledge and information on modern techniques and methods that are available in engineering applications and comprhensive knowledge on adaptation and applicability of these techniques | 4 |
6) | Ability to employ analytical, modeling, and experimental design, and implement research-based applications; ability to analyze and interpret complex conditions might occure during this process | 5 |
7) | Leadership in multi-disciplinary teams, offering solutions for complex cases and undertaking responsibility in such cases | 3 |
8) | Expressing professional skills and results of the studies verbally or written in national or international environments | 4 |
9) | Adequacy on consideration of social, scientific and ethical values on any professional work | 5 |
10) | Awareness about innovations on operations and application areas of the profession and ability to review and learn improvements when necessary | 5 |
11) | Understanding social and environmental extents of engineering applications and ability to harmony with the social environment | 5 |